A multi-purpose residential farm has hit the market on the coast of west Waterford in the last month. Located at Garranfort, Grange, near Ardmore, the farm encompasses an impressive 108 acres of fine ground, a modern residence, a farmyard and an excellent location. These four aspects are sure to generate interest, but will also expand the net of potential buyers for the property.

Possible buyers

The various factors that make up this holding means it can easily be a multi-purpose property, suitable for a number of enterprises. The significant acreage and good land means it could be used for any agricultural purpose.

The nice coastal location, just off the N25 between Dungarvan and Youghal, halfway between Cork city and Waterford city, may encourage those with the finances looking to retire in a quite scenic area to enquire.

The farm would also be well suited to an equine enterprise. West Waterford land is renowned for its quality and with the number of top-class farmers in the vicinity, people are taking notice.

The 107 acres in west Waterford are offered by Brian Gleeson and guided for €1.4m.

The 107 acres in west Waterford are offered by Brian Gleeson and guided for €1.4m.

The house and yard

The residence is a beautiful five-bedroom home. Standing on circa 3,500sqft, it is described by auctioneer Brian Gleeson of Gleeson Properties, Dungarvan and Ardmore, as a modern house in mint condition with ample space and class.

The house is situated at the front of the overall holding and is approached by a well-maintained driveway. Veering away from the driveway to the house is the roadway to the farmyard, which is located just 50m from the residence. This increases the practicality of the farm. The farmyard area is made up of a number of farm buildings that are all well kept.

The 107 acres in west Waterford are offered by Brian Gleeson and guided for €1.4m.

The 107 acres in west Waterford are offered by Brian Gleeson and guided for €1.4m.

The land

The land here is really top quality. Located to the back of the residence and the farmyard, it is all in one block. Currently all in grass, the land is divided into circa 13 large paddocks. These can be sub-divided depending on the grazing system employed here.

A comprehensive shelter belt surrounds the perimeter of most paddocks, making them ideal for livestock. A central roadway also aids practicality. The farm has been rented to dairy farmers for the last number of years and has been kept like it was their own.

A small portion of the land has road frontage onto the N25, with another section of the lands containing circa 50m frontage onto the minor public road to the side of the residence.

The holding is a turnkey property. In good condition across the board, it would make a lovely buy.

The market in Waterford

Supply of land to the market in Waterford has traditionally been one of the lowest in the country. In 2017, Waterford had the second-least amount of land supplied in Ireland, with only Louth having fewer acres offered. This year has seen more land on the market in the county, picking up over the last nine months. Having said that, big holdings do not come up that often here.

The fact that the property at Garranfort becomes the third farm over 100 acres to hit the market highlights this. The 103-acre farm on the Tipperary border that sold in January and Rocketts Castle on 250 acres are the other properties at this size.

As reported in this week’s Irish Country Living, the latter has dropped its guide by €1.5m to €4.5m in recent weeks.

Guide

The guide on this farm is €1.4m, or €13,600/ac. This is heavily influenced by the presence of the residence and the location. The average price of land in Waterford has been fluctuating each year since 2013.

Averages last year dipped to just under €8,500/ac, but 2016 values were almost €11,000/ac. Gleeson will be hoping that this holding’s final price reaches closer to that of 2016 prices than 2017. The quality here would make this realistic.